Schools in England are set to receive their highest ever funding in real terms, totalling almost £60 billion for 2024-25.
Mainstream schools in England will receive an average of around £6,000 for each pupil from next year through the National Funding Formula, with additional funding for teacher pay coming on top of that.
As shown in the below graphic, schools in Finchley & Golders Green will benefit from record funding of over £93 million under the new formula.
Overall, funding will be at its highest ever level in real terms per pupil in 2024-25, as measured by the independent Institute for Fiscal Studies (IFS) – underlining the Government’s commitment to education.
This money can be spent on staff salaries, school trips and classroom equipment which will help raise school standards and education outcomes. These increases form part of the additional £9.8 billion being invested in the schools core budget by 2024-25, compared to 2021-22.
This follows news last week that teachers in England have been given the highest pay award for 30 years of 6.5%, following government accepting in full the recommendations set out by the independent pay review body.
In doing so, the Government will be delivering on its manifesto commitment to raise the minimum starting salary for teachers to £30,000 from September. This deal will also allow teachers and school leaders to call off strike action, ending further disruption to children’s education.
More money than ever before is being invested in schools, ensuring every child gets a world class education, and supporting our plans to build a better future where children are given the highest standard of education, no matter where they grow up.